WOBURN, Mass.-Boston Communications Group Inc. reported an annual net loss of $1.1 million, or 8 cents per share, for the year ended Dec. 31, 1997, compared with a net income of $148,000, or 1 cent per share, in 1996.
The results included a pre-tax charge of $569,000 for a one-time write-down of assets that no longer are being used to support the company’s operations. Excluding this charge, the net loss per share was 4 cents for the year. Net revenues increased 34 percent to $68 million from $50.7 million reported at the end of 1996.
For the fourth quarter, the company reported net revenues of $18.1 million, a 42-percent increase from $12.7 million reported in the same period the previous year. The net loss during the fourth quarter was $1.4 million, or 8 cents per share, compared with a net loss of $305,000, or 2 cents per share reported in the same period the prior year. Excluding the one-time charge, the net loss per share was 6 cents for the quarter.
